- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| EPS QoQ YoY | 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q3 (20) | 0.52 | -43.48 | -21.21 | 21.41 | -0.93 | 34.82 | 13.51 | 2.35 | 95.8 | 11.68 | -43.38 | -22.39 | 9.17 | -43.67 | -22.55 | 1.27 | -43.05 | -24.85 | 1.05 | -41.99 | -21.05 | 0.11 | 0.0 | 0.0 | 22.56 | -28.65 | -17.03 | 20.07 | -23.66 | -24.29 | 115.79 | 80.92 | 150.88 | -15.79 | -143.86 | -129.32 | 16.31 | -6.64 | -8.27 |
| 24Q2 (19) | 0.92 | 8.24 | 5.75 | 21.61 | -2.75 | -2.35 | 13.20 | -6.85 | 1.3 | 20.63 | -2.83 | 4.67 | 16.28 | -2.69 | 6.06 | 2.23 | 6.19 | -0.45 | 1.81 | 5.23 | 5.23 | 0.11 | 10.0 | 0.0 | 31.62 | -5.78 | -0.82 | 26.29 | 16.02 | -20.93 | 64.00 | -4.52 | -3.49 | 36.00 | 7.42 | 5.23 | 17.47 | 10.5 | -7.07 |
| 24Q1 (18) | 0.85 | 254.17 | -2.3 | 22.22 | 16.64 | 12.62 | 14.17 | 44.44 | 8.67 | 21.23 | 246.9 | 4.38 | 16.73 | 250.0 | -1.65 | 2.10 | 244.26 | -8.3 | 1.72 | 237.25 | -1.71 | 0.10 | 0.0 | 0.0 | 33.56 | 74.7 | -1.55 | 22.66 | -9.69 | -27.33 | 67.03 | -57.71 | 4.33 | 33.51 | 155.51 | -6.27 | 15.81 | -8.98 | -1.19 |
| 23Q4 (17) | 0.24 | -63.64 | 442.86 | 19.05 | 19.96 | 21.88 | 9.81 | 42.17 | 68.85 | 6.12 | -59.34 | 811.63 | 4.78 | -59.63 | 439.01 | 0.61 | -63.91 | 438.89 | 0.51 | -61.65 | 666.67 | 0.10 | -9.09 | 0.0 | 19.21 | -29.35 | 38.5 | 25.09 | -5.36 | -32.04 | 158.49 | 243.4 | 123.11 | -60.38 | -212.13 | -107.68 | 17.37 | -2.31 | 1.88 |
| 23Q3 (16) | 0.66 | -24.14 | -5.71 | 15.88 | -28.24 | -20.6 | 6.90 | -47.05 | -34.91 | 15.05 | -23.64 | -12.8 | 11.84 | -22.87 | -14.08 | 1.69 | -24.55 | -10.11 | 1.33 | -22.67 | -4.32 | 0.11 | 0.0 | 10.0 | 27.19 | -14.71 | -12.54 | 26.51 | -20.27 | -25.11 | 46.15 | -30.4 | -25.06 | 53.85 | 57.4 | 40.19 | 17.78 | -5.43 | -0.45 |
| 23Q2 (15) | 0.87 | 0.0 | -16.35 | 22.13 | 12.16 | -18.34 | 13.03 | -0.08 | -31.31 | 19.71 | -3.1 | 8.83 | 15.35 | -9.76 | 8.4 | 2.24 | -2.18 | -9.68 | 1.72 | -1.71 | -4.44 | 0.11 | 10.0 | -15.38 | 31.88 | -6.48 | 12.89 | 33.25 | 6.64 | -21.49 | 66.32 | 3.22 | -36.67 | 34.21 | -4.32 | 825.26 | 18.80 | 17.5 | 13.32 |
| 23Q1 (14) | 0.87 | 1342.86 | -32.03 | 19.73 | 26.23 | -27.11 | 13.04 | 124.44 | -34.54 | 20.34 | 2465.12 | -5.17 | 17.01 | 1306.38 | 0.89 | 2.29 | 1372.22 | -27.53 | 1.75 | 2044.44 | -23.58 | 0.10 | 0.0 | -23.08 | 34.09 | 145.78 | 11.26 | 31.18 | -15.55 | -17.38 | 64.25 | 109.37 | -30.95 | 35.75 | -95.45 | 388.04 | 16.00 | -6.16 | 12.36 |
| 22Q4 (13) | -0.07 | -110.0 | -104.76 | 15.63 | -21.85 | -40.93 | 5.81 | -45.19 | -69.68 | -0.86 | -104.98 | -103.68 | -1.41 | -110.23 | -107.57 | -0.18 | -109.57 | -104.69 | -0.09 | -106.47 | -103.35 | 0.10 | 0.0 | -28.57 | 13.87 | -55.39 | -56.67 | 36.92 | 4.29 | -8.77 | -685.71 | -1213.36 | -937.8 | 785.71 | 1945.57 | 4228.32 | 17.05 | -4.54 | 13.97 |
| 22Q3 (12) | 0.70 | -32.69 | -70.34 | 20.00 | -26.2 | -28.44 | 10.60 | -44.12 | -50.54 | 17.26 | -4.69 | -45.24 | 13.78 | -2.68 | -46.9 | 1.88 | -24.19 | -71.73 | 1.39 | -22.78 | -69.25 | 0.10 | -23.08 | -41.18 | 31.09 | 10.09 | -18.89 | 35.40 | -16.41 | -24.76 | 61.59 | -41.18 | -9.52 | 38.41 | 914.3 | 19.55 | 17.86 | 7.66 | 35.51 |
| 22Q2 (11) | 1.04 | -18.75 | -18.11 | 27.10 | 0.11 | -0.29 | 18.97 | -4.77 | -8.31 | 18.11 | -15.57 | 0.44 | 14.16 | -16.01 | 6.07 | 2.48 | -21.52 | -33.51 | 1.80 | -21.4 | -29.13 | 0.13 | 0.0 | -31.58 | 28.24 | -7.83 | 16.69 | 42.35 | 12.22 | -13.45 | 104.72 | 12.55 | -8.64 | -4.72 | -164.39 | 67.75 | 16.59 | 16.5 | 30.63 |
| 22Q1 (10) | 1.28 | -12.93 | -18.47 | 27.07 | 2.31 | 13.79 | 19.92 | 3.97 | 18.64 | 21.45 | -8.29 | -6.98 | 16.86 | -9.45 | -9.31 | 3.16 | -17.71 | -36.8 | 2.29 | -14.87 | -31.85 | 0.13 | -7.14 | -27.78 | 30.64 | -4.28 | 2.2 | 37.74 | -6.75 | -21.24 | 93.04 | 13.68 | 27.98 | 7.33 | -59.64 | -73.16 | 14.24 | -4.81 | 10.73 |
| 21Q4 (9) | 1.47 | -37.71 | 38.68 | 26.46 | -5.33 | 13.61 | 19.16 | -10.59 | 21.04 | 23.39 | -25.79 | 39.73 | 18.62 | -28.25 | 41.27 | 3.84 | -42.26 | 7.56 | 2.69 | -40.49 | 13.5 | 0.14 | -17.65 | -22.22 | 32.01 | -16.49 | 33.71 | 40.47 | -13.99 | -21.9 | 81.85 | 20.24 | -13.23 | 18.15 | -43.5 | 219.77 | 14.96 | 13.51 | 7.78 |
| 21Q3 (8) | 2.36 | 85.83 | 33.33 | 27.95 | 2.83 | 14.04 | 21.43 | 3.58 | 24.16 | 31.52 | 74.82 | 25.18 | 25.95 | 94.38 | 23.63 | 6.65 | 78.28 | 1.06 | 4.52 | 77.95 | 7.62 | 0.17 | -10.53 | -15.0 | 38.33 | 58.39 | 20.61 | 47.05 | -3.84 | -12.5 | 68.07 | -40.61 | -0.76 | 32.13 | 319.67 | 2.3 | 13.18 | 3.78 | -3.23 |
| 21Q2 (7) | 1.27 | -19.11 | 2.42 | 27.18 | 14.25 | -0.22 | 20.69 | 23.23 | 7.37 | 18.03 | -21.81 | -15.11 | 13.35 | -28.19 | -17.29 | 3.73 | -25.4 | -23.72 | 2.54 | -24.4 | -20.13 | 0.19 | 5.56 | -5.0 | 24.20 | -19.28 | -13.66 | 48.93 | 2.11 | -21.36 | 114.63 | 57.67 | 26.36 | -14.63 | -153.58 | -257.51 | 12.70 | -1.24 | 0 |
| 21Q1 (6) | 1.57 | 48.11 | 190.74 | 23.79 | 2.15 | -6.82 | 16.79 | 6.06 | -3.78 | 23.06 | 37.75 | 107.94 | 18.59 | 41.05 | 118.45 | 5.00 | 40.06 | 140.38 | 3.36 | 41.77 | 128.57 | 0.18 | 0.0 | 5.88 | 29.98 | 25.23 | 56.39 | 47.92 | -7.53 | 1.57 | 72.70 | -22.92 | -53.84 | 27.30 | 380.89 | 147.48 | 12.86 | -7.35 | -5.79 |
| 20Q4 (5) | 1.06 | -40.11 | 20.45 | 23.29 | -4.98 | -2.8 | 15.83 | -8.29 | 3.8 | 16.74 | -33.52 | -1.99 | 13.18 | -37.21 | -11.96 | 3.57 | -45.74 | 4.39 | 2.37 | -43.57 | -4.44 | 0.18 | -10.0 | 12.5 | 23.94 | -24.67 | -6.48 | 51.82 | -3.63 | 31.42 | 94.32 | 37.51 | 5.42 | 5.68 | -81.92 | -46.07 | 13.88 | 1.91 | -15.26 |
| 20Q3 (4) | 1.77 | 42.74 | 0.0 | 24.51 | -10.02 | 0.0 | 17.26 | -10.43 | 0.0 | 25.18 | 18.55 | 0.0 | 20.99 | 30.05 | 0.0 | 6.58 | 34.56 | 0.0 | 4.20 | 32.08 | 0.0 | 0.20 | 0.0 | 0.0 | 31.78 | 13.38 | 0.0 | 53.77 | -13.58 | 0.0 | 68.60 | -24.38 | 0.0 | 31.40 | 238.21 | 0.0 | 13.62 | 0 | 0.0 |
| 20Q2 (3) | 1.24 | 129.63 | 0.0 | 27.24 | 6.7 | 0.0 | 19.27 | 10.43 | 0.0 | 21.24 | 91.52 | 0.0 | 16.14 | 89.66 | 0.0 | 4.89 | 135.1 | 0.0 | 3.18 | 116.33 | 0.0 | 0.20 | 17.65 | 0.0 | 28.03 | 46.22 | 0.0 | 62.22 | 31.88 | 0.0 | 90.71 | -42.4 | 0.0 | 9.29 | 116.15 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.54 | -38.64 | 0.0 | 25.53 | 6.55 | 0.0 | 17.45 | 14.43 | 0.0 | 11.09 | -35.07 | 0.0 | 8.51 | -43.15 | 0.0 | 2.08 | -39.18 | 0.0 | 1.47 | -40.73 | 0.0 | 0.17 | 6.25 | 0.0 | 19.17 | -25.12 | 0.0 | 47.18 | 19.66 | 0.0 | 157.50 | 76.03 | 0.0 | -57.50 | -646.25 | 0.0 | 13.65 | -16.67 | 0.0 |
| 19Q4 (1) | 0.88 | 0.0 | 0.0 | 23.96 | 0.0 | 0.0 | 15.25 | 0.0 | 0.0 | 17.08 | 0.0 | 0.0 | 14.97 | 0.0 | 0.0 | 3.42 | 0.0 | 0.0 | 2.48 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 25.60 | 0.0 | 0.0 | 39.43 | 0.0 | 0.0 | 89.47 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 16.38 | 0.0 | 0.0 |
| EPS YoY | 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 2.64 | -10.81 | 19.21 | -17.62 | 10.68 | -28.27 | 12.18 | 9.9 | 15.46 | 1.71 | 12.35 | 4.48 | 6.85 | -8.54 | 5.36 | -2.9 | 0.42 | -8.7 | 28.22 | 5.57 | 25.09 | -32.04 | 69.03 | -29.63 | 30.80 | 1390.07 | 0.07 | -23.02 | 17.52 | 8.01 |
| 2022 (9) | 2.96 | -55.62 | 23.32 | -11.67 | 14.89 | -24.03 | 11.08 | 62.04 | 15.20 | -36.67 | 11.82 | -38.15 | 7.49 | -61.03 | 5.52 | -58.5 | 0.46 | -33.33 | 26.73 | -14.0 | 36.92 | -8.77 | 98.09 | 20.08 | 2.07 | -88.75 | 0.09 | 23.15 | 16.22 | 21.32 |
| 2021 (8) | 6.67 | 45.0 | 26.40 | 5.22 | 19.60 | 12.45 | 6.84 | -0.52 | 24.00 | 25.98 | 19.11 | 26.31 | 19.22 | 19.16 | 13.30 | 19.5 | 0.69 | -5.48 | 31.08 | 18.85 | 40.47 | -21.9 | 81.69 | -10.75 | 18.38 | 117.03 | 0.07 | 196.59 | 13.37 | -4.36 |
| 2020 (7) | 4.60 | 2.45 | 25.09 | -13.06 | 17.43 | -15.06 | 6.87 | -4.94 | 19.05 | -15.41 | 15.13 | -13.84 | 16.13 | -6.38 | 11.13 | -7.33 | 0.73 | 7.35 | 26.15 | -12.57 | 51.82 | 31.42 | 91.53 | 0.44 | 8.47 | -4.52 | 0.03 | -21.08 | 13.98 | -8.81 |
| 2019 (6) | 4.49 | -47.91 | 28.86 | -30.29 | 20.52 | -39.06 | 7.23 | 136.29 | 22.52 | -31.05 | 17.56 | -31.75 | 17.23 | -55.34 | 12.01 | -55.73 | 0.68 | -35.24 | 29.91 | -16.38 | 39.43 | -19.03 | 91.13 | -11.6 | 8.87 | 0 | 0.03 | -48.45 | 15.33 | 6.83 |
| 2018 (5) | 8.62 | 328.86 | 41.40 | 68.16 | 33.67 | 137.95 | 3.06 | -30.36 | 32.66 | 122.33 | 25.73 | 124.72 | 38.58 | 232.87 | 27.13 | 214.0 | 1.05 | 40.0 | 35.77 | 86.11 | 48.70 | 43.79 | 103.09 | 7.0 | -3.09 | 0 | 0.06 | 0 | 14.35 | -23.63 |
| 2017 (4) | 2.01 | 47.79 | 24.62 | 9.91 | 14.15 | 24.89 | 4.39 | -17.61 | 14.69 | 26.86 | 11.45 | 22.59 | 11.59 | 31.56 | 8.64 | 31.31 | 0.75 | 7.14 | 19.22 | 12.53 | 33.87 | -5.21 | 96.34 | -1.75 | 3.66 | 61.9 | 0.00 | 0 | 18.79 | -3.49 |
| 2016 (3) | 1.36 | 83.78 | 22.40 | 18.21 | 11.33 | 72.45 | 5.33 | -15.09 | 11.58 | 56.49 | 9.34 | 62.72 | 8.81 | 75.85 | 6.58 | 76.88 | 0.70 | 11.11 | 17.08 | 23.23 | 35.73 | 0.45 | 98.06 | 10.56 | 2.26 | -80.02 | 0.00 | 0 | 19.47 | -8.72 |
| 2015 (2) | 0.74 | -1.33 | 18.95 | 4.41 | 6.57 | 8.06 | 6.28 | 20.55 | 7.40 | 2.07 | 5.74 | 3.8 | 5.01 | -5.65 | 3.72 | -6.06 | 0.63 | -8.7 | 13.86 | 8.2 | 35.57 | -10.24 | 88.70 | 5.51 | 11.30 | -29.09 | 0.00 | 0 | 21.33 | 4.25 |
| 2014 (1) | 0.75 | 581.82 | 18.15 | 0 | 6.08 | 0 | 5.21 | -27.39 | 7.25 | 0 | 5.53 | 0 | 5.31 | 0 | 3.96 | 0 | 0.69 | 9.52 | 12.81 | 31.25 | 39.63 | 3.39 | 84.07 | 22.5 | 15.93 | -49.21 | 0.00 | 0 | 20.46 | -5.8 |
